Banks in India seek refuge Mortgage lender Housing Development Finance Corp Ltd loved by global investors for its steady profit growth, faces an intensifying battle for business and market share as banks aggressively push home loans. With Indias economic flu hitting corporate lending, banks have cranked up efforts to tap into the countrys housing loan demand, which has proven to be brick-hard by comparison. Demand for homes, and loans, has been stoked by a persisting housing shortage as long-term demographic changes - urbanisation, rising incomes, more nuclear families - transform how and where people live in Asias third-biggest economy. With their eyes on the prize, banks such as state-run Bank of India (BOI) (BOI.NS) and ICICI Bank (ICBK.NS), the biggest private sector lender, are swarming the market with discounts and special offers, willing to even live with narrower margins.
Posted on: Thu, 23 Jan 2014 07:43:38 +0000
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